ABCAPITAL / Q4-FY25 / claim-ledger

Audit the questions that mattered.

Aditya Birla Capital · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ4-FY25 · 2025-04-30Back to quarter ↗

Questions audited

Answered directly

82%

Numeric claims

Consistency

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Question ledger

What was answered, and how?

Avinash Singh · Emkay Global Financial Services

direct

Why are NBFC margins still weak despite growth in SME segment?

If you look at our yields for quarter three and quarter four, it is quite stable at 12.9, and the margins are expanding from 6 to 6.07. This is on account of the change in the product mix.

Avinash Singh · Emkay Global Financial Services

partial

Why is NPA high in government-guaranteed business loans?

The reason why it looks elevated is because it does not get written off at 180 days, and that's the reason it keeps looking elevated. That's because this is backed by a guarantee from the non-first deed.

Avinash Singh · Emkay Global Financial Services

partial

How will loan growth appear in FY26 given moderating self-originated growth?

As we have guided that in the next three years, we are looking at doubling our loan book. Clearly, that's the kind of momentum which we are looking at going forward as well.

Chintan Shah · ICICI Securities

partial

What explains the rise in stage 3 in unsecured business from 4.1% to 4.7%?

This looks elevated because it does not get written off at 180 days the way we do our other unsecured segment because this is guaranteed by the government and the [Synthetics]. That's the reason why it looks elevated.

Chintan Shah · ICICI Securities

direct

What are the yields and ticket sizes in the developer book?

Developer book, the yields are anywhere between 13%-13.25%. That is the yield that is there for the developers.

Chintan Shah · ICICI Securities

direct

What is the minimum capital adequacy threshold for HFC and capital infusion plans?

Total CRAR requirement is 15%. On that, we are at 16.54%. During the year, we will increase INR 200 crore.

Chintan Shah · ICICI Securities

direct

What are the key drivers for ROA improvement to 200-220 bps?

The improvement in ROA will essentially come with operating leverage. What is OpEx to average loan book, which is 2.94? The endeavor in the next 8-10 quarters is to reduce that by between 120-130 basis points.

Abhijit Tibrewal · Motilal Oswal

direct

How will declining rates and product mix impact NBFC margins?

Cost of funds, if you look at our liability borrowing, 65% is floating and asset is 71% floating. In a way, it is very, very balanced. As we grow personal and consumer segment... our margins should expand.

Abhijit Tibrewal · Motilal Oswal

direct

Will existing product suite suffice to double loan book in three years?

We might look at one or two more products, but the way we are looking at, we want to spread our existing branches... and also the digital assets which we have created.

Abhijit Tibrewal · Motilal Oswal

partial

What is the target product mix for PNC loans and NBFC ROA outlook?

Personal and consumer can go to around close to 20%, and unsecured business will again grow. In terms of guidance on the ROA, we will, I think, wait and see how the next couple of quarters goes.

Gaurav Kochar · Mirae Asset

direct

What yield does the unsecured personal loan portfolio run at?

This portfolio runs at closer to 18%-19%. I think a 200 basis point improvement in the product mix should help us expand our margins.

Nidhesh Jain · Investec

direct

What is the monthly run-rate of personal loan disbursements from ABCD app?

At INR 100 crore run rate per month, Nidhesh. I think we'll keep it.